Over 30 years of retirement, Woolbright would collect as much as $992,272, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.
The projection assumes Woolbright received $20,856 in the first year of retirement, then 3 percent annual increases thereafter, compounded.
After 3 years of retirement, Woolbright will have already received $64,464 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.
Alerts Sign-up